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More than likely you have heard of the debt elimination programs that Ramsey and Cummuta have to offer. However, you may be wondering how these programs are similar, how they differ, and which one is the best one for you. Of course both programs have a lot to offer, but many people want to know how these programs compare to each other. So, let’s take a closer look at Ramsey vs. Cummuta and how their programs measure up to each others’.
Both Men Had Similar Experiences
If you take a close look at both Ramsey and Cummuta, you’ll find that both of them have similar experiences. Both men have dealt with debt in their own lives and lived to overcome it, which makes both of them experts in their field. You’ll also find that both men are authors of several books on eliminating debt as well. So, if you are wondering if they have the experience to provide adequate debt elimination materials, you’ll find that both of them have the qualifications for the job.
The Comparisons
So, let’s take a close look at the ways that these two programs are similar. The main similarity you’ll find in a Dave Ramsey and John Cummuta comparison is that they both focus on getting you out of debt by snowballing your debts. The main goal is the same, although they have slightly different ways of accomplishing these goals. Both of these programs also promote having savings as well, although they may not agree when it is the best time to start this savings. Also, a close look at the two programs by these men will show you that they both focus on building wealth after you get out of debt as well.
A Few Differences
While there are several differences when it comes to their debt elimination programs, you’ll also find that there are a few different between the programs that are offered by Ramsey and Cummuta. The first main difference that you’ll find is that Ramsey’s “Baby Steps” program has starting a savings as the very first step, where “Transform Debt to Wealth,” by Cummuta focuses on paying off debt before you start any type of savings.
Another difference that you’ll find between the two programs is that Ramsey has people paying off the mortgage at a later point than other debts. However, Cummuta’s program actually lumps in the mortgage with the rest of the debt to be paid off as soon as possible. Also, you’ll notice that there are more steps in the “Baby Steps” program than in the program by Cummuta.
So, Which One is Best?
So, which of these programs are actually the best? When you compare Dave Ramsey vs. John Cummuta, whose program comes out ahead? Well, there is no pat answer to that question. For many, the answer lies in what they are looking for. For many people, Dave Ramsey's Financial Peace program with the “Baby Steps” offers a simpler way to get out of debt, offering steps that can be easily taken to get rid of debt; however, for others the approach used in “Transform Debt into Wealth” is the best option. So, neither of these programs come out ahead as a true front runner.
Actually, people looking to get out of debt may be able to glean a lot of great knowledge from both of these programs. Some people have purchased both programs and combined them in order to get out of debt.
In any case, taking the time to read both programs is a great idea, since you’ll be armed with even more knowledge to help you eliminate debt in your life and get back on track on your way to a bright financial future. The differences between these two programs are minor, and both have a lot to offer, so decide which program you think will best suit your needs, or better yet, get both of them and use them together to get out of debt for good.
Resources:
Dave Ramsey
John Cummuta
Mvelopes Personal is an online budgeting system that makes it easy to create an effective personal budget and track every aspect of your spending as it happens. It will help you always know exactly how much you have left to spend, instantly know the impact of every spending decision, effectively manage credit card spending, and quickly create an easy to use household budgeting plan. Click here to learn more
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Did You Know... |
49% of adults, and 66% of US high school students got F's on a national test on their knowledge of basic economic principles.
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Food for Thought... |
"I'd rather go to bed without supper than rise in debt."
-Ben Franklin.
